The Value of Hiring Candidates That Have Been Laid Off

In the process of scrutinizing resumes, an often overlooked yet key group of individuals is employees that have been laid off. Whether it’s due to downsizing or company reorganizations due to mergers or acquisitions, these are vital candidates. These applicants are more than capable and should be considered alongside the mythical “purple squirrel candidate.” It’s time to break the stigma around these job candidates!

Read further for reasons to hire employees who have been laid off:

Ready, set, go!

Candidates who’ve been laid off are hungry, searching, and ready to start. Typically these candidates are available to interview and start within one to two weeks because they have open availability, know their salary requirements, and are not looking to play games. Unlike a candidate who is already employed, these candidates are motivated, enthusiastic and ready to hit the ground running in a new job. Whereas passive candidates are obligated to their current companies and a two-week notice at a minimum. Pinning down a passive candidate can take months; from scheduling first and second round interviews to salary negotiations.

Time to partner with a better company mentality.

After surviving the distress that a layoff can bring, joining a company where the culture is stable and transparent is at the top of their list. Being able to show candidates that you have an adaptable, autonomous, and wellness-conscious culture will be enticing. Promoting your positive company culture traits during your recruiting and hiring process will generate more win-win scenarios.

Top talent ready to be groomed.

In some circumstances, the candidate fell victim to downsizing’s last-in, first-out formula. These candidates tend to be newer in their industries and careers. They are new talent ready to be groomed. Their career development motivation allows you to capitalize on fostering their talent from the ground-up. Your investment can give you a loyal candidate with good reasons to stay long-term. In turn, this loyalty drives employees to give back what they receive from your company: dedication and hard work.

Short-term or Contracted candidates. 

In certain scenarios, companies who are downsizing or undergoing reorganization offer early retirement or severance packages which give candidates flexibility in planning the next chapter of their careers. These candidates may not be ready to fully retire and want to stay in the workforce for another 5-10 years. Or there may be candidates at the end of their severance who are looking for their next long-term career move. Either way, these candidates tend to be ready to put their seasoned, industry- trained, talents to work. These candidates are perfect for organizations looking for experts to assist with short and long-term projects or contracts.

Just because an applicant was laid off does not make them any less desirable than the next candidate who has not. Be careful not to overlook this outstanding group of potential employees. They can heavily benefit your organization as they are typically experienced, motivated, and ready to jump in with both feet.